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Feasibility study report on Huaneng Yuhuan Power Plant approved

BEIJING, Dec. 22, 2003 — Huaneng Power International Inc. recently obtained approval from the State Council on its feasibility study report on two 1,000 MW-class ultra-supercritical coal-fired generating units for Huaneng Yuhuan Power Plant.

Huaneng Yuhuan Power Plant, a sea-port power plant, is located at Oujiangkou on the east bank of Yueqingwan in Yuhuan County of Zhejiang Province.

The first phase of the project involves the construction of two 1,000MW-class coal-fired generating units, which are expected to commence operation in the second half of 2007 and in the first half of 2008, respectively, and will be connected to the East China Power Grid.

The total investment (including financial cost) of the project calculated based on the pricing level of 2002 is estimated to be approximately RMB8.489 billion, 25% of which is equity capital and will be funded by the company’s internal cash resources, with the remaining amount to be funded by bank loans.

The company develops, constructs, operates and manages large thermal power plants in China nationwide, with a total generation capacity of 15,936MW on an equity basis. The company wholly owns 14 power plants, and has controlling interests in five power plants and minority interests in three power companies.